The real estate market in Dubai is one of the most successful stories in the world. Freehold ownership of selected developments in Dubai was opened to all nationalities in May 2002. Residential and commercial projects from world class construction companies have elicited tremendous response from both nationals and expatriate buyers.
Freehold properties are attracting a large share of foreign ownership due to increased opportunities and quick returns on investments. Rental yields are expected to remain at high level as the freehold properties being offered are very unique on a worldwide scale and will continue to attract investors.
Investing in Dubai freehold properties is a profitable deal when it comes to location, tax efficiencies, leisure, quality of life, leadership and vision, an ambition where Dubai sees itself in the future. One of the main attractions for would-be buyers is the provision of residence visas for expatriate investors and their immediate family.
Dubai has one of the highest per capita construction spends in the world. Dubai is experiencing tremendous growth in real estate and tourism projects that is the most significant in the region. The growth rate exceeds that achieved by other countries in the Middle East and large parts of Europe.
Dubai’s staggering construction industry is unrivaled in the Middle East with multi-million dollar projects springing into life on a daily basis. The past 10 years have seen as much development in this thriving emirate as any other city in the world, and the trend is set to continue well into the new Millennium as more and more business is channeled in from all corners of the planet.Freehold property is dominated by some of the major developers like Emaar and Nakheel. Some of their projects include The Palm in Jumeirah, Jebel Ali and Deira, Golden Mile, Dubai Marina, Meadows, Springs, Greens, Emirates Hills, Burj Dubai, Jumeirah Beach Residence, Jumeirah Lake Towers, Jumeirah Islands, Arabian Ranches etc. Freehold properties in Dubai seem to going in only one way. Up! Invest in properties in UAE!
Captivating Contrasts
From the timeless tranquillity of the desert to the lively bustle of the souk, Dubai offers a kaleidoscope of attractions for visitors.
The emirate embraces a wide variety of scenery in a very small area. In a single day, the tourist can experience everything from rugged mountains and awe-inspiring sand dunes to sandy beaches and lush green parks, from dusty villages to luxurious residential districts and from ancient houses with windtowers to ultra-modern shopping malls.
The emirate is both a dynamic international business centre and a laid-back tourist escape; a city where the sophistication of the 21st century walks hand in hand with the simplicity of a bygone era.
But these contrasts give Dubai its unique flavour and personality; a cosmopolitan society with an international lifestyle, yet with a culture deeply rooted in the Islamic traditions of Arabia.
Since earliest times, Dubai has been a meeting place, bringing together the Bedouin of the desert interior with the pearl-diver, the merchant of the city with the sea-going fisherman.
Dubai City
Having expanded along both banks of the Creek, Dubai’s central business district is divided into two parts — Deira on the northern side and Bur Dubai to the south — connected by a tunnel and two bridges. Each has its share of fine mosques and busy souks, of public buildings, shopping malls, hotels, office towers, banks, hospitals, schools, apartments and villas.
Outside this core, the city extends to the neighbouring emirate of Sharjah to the north, while extending south and west in a long ribbon of development alongside the Gulf, through the districts of Satwa, Jumeirah and Umm Suqeim.
At first glance, the city presents a predominantly modern face, an ever-changing skyline of new developments, from striking glass and concrete towers to gracious modern buildings incorporating traditional Arabian architectural motifs and features.
Climate
The UAE has a sub-tropical, arid climate. Rainfall is infrequent and irregular. Falling mainly in winter, it amounts to some 13 centimetres a year. Temperatures range from a low of about 10 degrees Celsius to a high of 48 degrees Celsius. The mean daily maximum is 24 degrees in January rising to 41 degrees in July.